Asian advantage

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Richard E. Caves

The third edition of Multinational Enterprise and Economic Analysis surveys the contributions that economic analysis has made to our understanding of why multinational enterprises exist and what consequences they have for the workings of the national and international economies. It shows how economic analysis can explain multinationals' activity patterns and how economics can shed conceptual light on problems of business policies and managerial decisions arising in practice. It addresses the welfare problems arising from multinationals' activities and the logic of governments' preferences and choices in their dealings with multinationals. Suitable for researchers, graduates and upper-level undergraduates. The third edition of this highly accessible book incorporates the many additions to our knowledge of multinationals accumulated in research appearing in the past decade.

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Russell Smyth ... [et al

"China is now opening its protected markets and beginning to submit to the rule of international law. This ongoing transition and increasing participation in the world economy has resulted in significant changes in human resource, management and social welfare practices in China's enterprises. The book examines the key areas, all of which are linked, where China is grappling with institutional reforms as it opens up to the outside world - state-owned enterprise reform, capital markets and financial reform; human resources and labour market reform; social welfare reform; and China's accession to the WTO and the growth of the private sector."--Jacket.

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Tony Fu-Lai Yu

This is the first systematic economic study of the nature, operation and contribution of entrepreneurship to the growth of Hong Kong. From a new entrepreneurial perspective of economic development, the author argues that the success of Hong Kong is attributable principally to adaptive entrepreneurship: * product imitation, * small scale enterprise, * subcontracting, * spatial arbitrage. Using these entrepreneurial strategies, local manufacturers learned from foreign firms and imitated their products. By selling improved commodities at lower prices, they competed against the original suppliers from more advanced countries. Being alert to opportunities and responding rapidly to change, Hong Kong's entrepreneurs shifted their production activities from one product to another; from higher cost to lower cost regions; from traditional fishing and agriculture to manufacturing, and then to finance and other services. These entrepreneurial activities have brought about structural transformation in Hong Kong's economy, enabling the country to compete with advanced economies. This study concludes that any policy recommendation on economic development should be based on analysis that incorporates entrepreneurship and provides a reappraisal of the role of government in economic development.

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Keijiro Otsuka, Deqiang Liu, and Naoki Murakami

This volume is an attempt to explore the success of China's economic reform using studies of specific industries - the clothing, machine tool, and iron and steel industries - supplemented by analysis of official statistics.